Mumbai, May 31 (way2newstv.com):
Good news for FDI investors. State Bank of India, the largest public sector bank in the country has provided sweetnews to its depositors. FDI interest rates have been increased slightly (0.25%) . The interest rate increases will be applicable for term deposits of up to three years starting from one year to three years. SBI has announced a 25 basis point rise in interest rates on deposits below Rs 1 crore.
It has come into effect from May 28, Interest rates on term deposits of one year to less than two years have now increased to 6.65 percent from 6.40 percent.
BANK INTEREST RATES HAVE RISEN
Interest rates on deposits exceeded three years from 6.60 per cent to 6.65 percent, respectively, as interest rates on fixed deposits have been raised. Interest rates on term deposits of 3 to 5 years and 5-10 years have not changed. Senior Citizens have increased from 6.90% to 7.15% for deposits within one year to less than two years.Interest rates will be 7.15 per cent on deposits within two years to less than three years. In the past, that are 7.10 percent.
